$FIL is currently experiencing a downtrend, with a 24-hour price change of -4.038%.
The price hovered between a high of 2.206 and a low of 1.964, testing established support.
Bollinger Bands indicate tightening volatility, with the upper and lower bands at 2.1446 and 2.0168, respectively.
Resistance sits at 2.184, suggesting a potential barrier for upward movement.
Macroeconomic factors, including inflation concerns and regulatory developments, currently weigh on sentiment.
Bitcoinโs influence remains unclear, making correlation assessments challenging.
Traders should consider a short-term approach due to the heightened volatility and predominant downtrend.
Key takeaway: Watch for breakouts above 2.184 or further slides below 1.964 to gauge future movements.
